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Ackman’s Pershing Trims Allergan In Q4

From his head-to-head battle with Carl Icahn over whether or not Herbalife Ltd HLF 1.35% is a pyramid scheme, to his lawsuit against the U.S. government over its treatment of Fannie Mae FNMA 4.38% and Freddie Mac FMCC 5.03%, billionaire investor Bill Ackman has never been afraid to take an aggressive stance.

Ackman is founder and CEO of Pershing Square Capital Management LP, and many investors that follow the fund’s moves have been eagerly awaiting the latest 13-F filing for the fourth quarter.

Pershing reduced its position in Allergan by more than two million shares in Q4 down to 26,635,978 shares. With a value of over $5.6 billion, Allergan remains Pershing’s largest holding by a wide margin.

The only totally new position in Pershing’s 13-F is a more than 38 million-share stake in Restaurant Brands. The new holding is valued at nearly $1.5 billion.

To see the rest of Pershing’s holdings, the company’s full 13-F filing can be found here.

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